The loan will be used in the development of Mina Al Arab project
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The UAE-based developr RAK Properties has mandated Commercial Bank of Dubai (CBD) to arrange a 2 billion dirhams ($544 million) syndicated long term financing facility.
The facility will support RAK Properties' Mina Al Arab development, and provide long-term liquidity.
(Writing by Brinda Darasha; editing by Seban Scaria)
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